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How Africa and Europe can collaborate to tap benefits of digital economy, by Osinbajo

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5 years ago

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Africa and Europe must work together to advance and harvest the economic benefits of digital economy, and at the same time prevent a counter-productive widening of the digital gap, according to Vice President Yemi Osinbajo, SAN.

Prof. Osinbajo stated this today at the Africa-Europe High-Level Forum in Vienna, Austria, which had in attendance other African and European Heads of States or Government.

The meeting organized by the European Union and African Union, held in Vienna, Austria on Monday, December 17, and Tuesday, December 18.

Speaking on the forum’s theme ‘Taking cooperation to the digital age’, the Vice President noted that investments in digital technology can make important contribution to growth and development by fostering productivity gains from continuous innovation.

He said, “Given our fast-growing population in Africa, we are, of course, keen to work together to boost the job creation potential of new technologies rather than concentrating on jobs destined to disappear in the digital age. Faster growth, sustainable development and job creation are also vital for reducing irregular migration from Africa to Europe. In our globalized world, people can see disparities in standards of living across regions quite easily. This means there must be increasing openings for entrepreneurship and jobs in home countries for those who would otherwise embark on risk journeys in search of opportunities. In Nigeria we are taking urgent and practical steps to provide such opportunities for our rapidly increasing youth population.”

Prof. Osinbajo also highlighted the strides made by the Buhari administration in developing Nigeria’s technology sector through supporting public-private sector initiatives and the advisory group on technology and creativity.

Noting that the advisory group has been working to build an ecosystem for funding, training, infrastructure and intellectual property protection, the Vice President added that the country’s Social Investment Programme has been leveraging on technology tools to drive it in its bid to improve the economy and lives of Nigerians.

He said, “Under our social investment programme, 75,000 young people are being trained in coding, software development, hardware maintenance, animation and data management, and we’re set to train another 200,000 young men and women. Similarly, we have established 8 technology hubs to support tech startups across our six geopolitical zones and two major cities of Abuja and Lagos.

“We’ve encouraged partnership to establish venture funds to support innovation and are now engaged in talks to establish a $500 million innovation funds with bilateral and multilateral partners.

“We’ll be deploying digital methods and tools on a larger scale to expand learning opportunities for younger Nigerians, as conventional education through brick and mortar institution can no longer be viable given the huge numbers and limited resources. Already, 200,000 out of our 500,000 young graduates in our N-Power scheme have tablet devices, which we use for on-the-job training and further skills acquisition. This experience will guide our efforts as we seek to expand digital literacy at earlier stages of education.

“Similarly, our education curriculum is being reworked to emphasize Science, Technology, Engineering, Arts, and Mathematics. The Arts have been included because of the growing recognition of the strengths of our country, especially in the arts, music, film and literature.”

Prof. Osinbajo also highlighted the growth in e-commerce in Nigeria, with references to leading e-commerce platforms that have leveraged on technology to grow their businesses.

He said, “Financial technology is being used in our efforts to rapidly scale up financial inclusion. Working with our banks, TELCOs and FinTech companies, we’ve used digital tools and platforms to provide interest-free micro loans to up to 1.3 million Nigerians and about 300,000 received Conditional Cash Transfers by the same means. We hire, pay and train online 500,000 young men and women in the largest post-tertiary direct jobs programme in Africa. Through participation in this scheme, present and future beneficiaries would be brought into databases for unique biometric identification.

The Vice president also thanked European countries for their support, while calling on other EU member states to partner with Nigeria and Africa to impart skills, raise resources, promote investment and provide infrastructure to build a digital economy.

“I’m optimistic that our efforts would attract strong support and active engagement of our partners in the European Union. Indeed, already, we have some good examples of that in the African Digital leaders Training programme, which is a partnership between Ventures Platform of Nigeria and Enterprise Lithuania with funding from the European Union. This innovative programme would provide digital skills training for 50 young Nigerians in Lithuania, while at the same time, relieving temporary labour shortage in that country. A reintegration component is also built into the package.

“We have a moment in the history of Europe-Africa relations that can yield tremendous mutual benefits. Let us seize this moment,” he said.

Several African and European Heads of Government attended the High-Level forum. They include the Austrian Federal Chancellor, Sebastian Kurz; the Prime Ministers of Netherlands, Mark Rutte; Poland, Mateusz Morawiecki; Hungary, Viktor Orban; Czech Republic, Andrej Babis; and deputy Prime Minister of Ireland. African Heads of Government at the meeting include the President of Rwanda, who is also the Chairperson of the African Union, Paul Kagame; President of Ghana, Nana Akufo-Addo; Egypt’s Abdel-Fattah Al-Sisi; Kenya’s Uhuru Kenyatta; and Prime Minister of Mauritius, Pravind Kumar, among others.

Earlier on Monday night, Prof. Osinbajo had an interactive session with the Nigerian community in Austria during a town hall meeting.

VP in group photograph after a town-hall meeting with the Nigerian community in Austria on his arrival in Vienna. Photo: Novo Isioro

At the meeting attended by leading members of the Nigerian community in Vienna, the Vice President commended the work of Nigerians in Diaspora, noting that that the Nigerian community was adding value to the country.

Prof Osinbajo said, “We very strongly believe that our country can do much better than where we are, we have practically everything that it takes to make the country work. In fact we have more than what it takes to make the country do exceedingly well; there is no question about that. But corruption has been the major problem in the country.

Adding that Nigeria must tackle “the monster of corruption,”, the Vice President added, “there is no country in the world that can survive when its resources are stolen the way our resources were stolen. It doesn’t really matter how you slice it or describe it, so long as a few people can take government or public resources and do with it as they like, they are not likely to be able to do the basic.”

He also urged Nigerians to continue to support the work of the administration in making the country better through provision of more infrastructure and tackling grand corruption, among other development initiatives.

“Today our country earns 60 per cent less than it earned five years ago, but we have spent N2.7 trillion in two budget cycle in infrastructure, that is the highest in the history of our country,” he said.

In attendance at the town hall meeting were the Nigerian Ambassador to Austria, Amb. Vivian Okeke; the Nigerian Ambassador to Hungary, Dr. Eniola Ajayi; leaders of Nigerian communities in Austria, and other senior government officials.

 

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Access Bank Group, Aig-Imoukhuede Foundation Pledge $300m to Transform Africa’s Economic Landscape

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2 days ago

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May 16, 2024

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“We can’t wait to be saved; Africans need to solve Africa’s problems. This $300 million commitment reflects this reality’’ – Aig-Imoukhuede

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Aig-Imoukhuede Foundation and Access Bank Group have pledged $300 million in charitable commitments over the next 20 years. Access Bank has committed $200 million and Aig-Imoukhuede Foundation committed $100 million.

President Paul Kagame, President of the Republic of Rwanda and Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC, at the Africa CEO Forum 2024 in Kigali…Thursday.

This will fund African government initiatives with a proven potential to transform national economic performance.

Speaking about the commitment, Aigboje Aig-Imoukhuede, Chairman, Access Holdings and Co-Founder, Aig-Imoukhuede Foundation, said, “We can’t wait to be saved, Africans need to solve Africa’s problems. This $300 million commitment reflects this reality.”

President Paul Kagame, President of the Republic of Rwanda and Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC, at the Africa CEO Forum 2024 in Kigali…Thursday.

Appropriately, this announcement was made at the Africa CEO Forum 2024 in Kigali, Rwanda, where the theme of this year’s event is ‘At the table or on the menu?’. At the event, CEOs from across the continent joined to discuss how Africa can demand a seat at the global table, rather than continuing to wait to be invited.

The fund will see the creation of an African-led Super NGO in partnership with academics, experts and philanthropists across the globe who are committed to closing the gap between Africa and the rest of the world. The NGO will work with African governments to provide the funding, governance and talent required to successfully execute game changing government reform programs, especially in the delivery of digital public infrastructure.

The development comes at a time when Ajay Banga, President of the World Bank, has warned wealthy countries that it would be short-sighted to “ignore” Africa. This landmark Africa-led initiative could not have been better timed.

Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC and Co-founder, Aig-Imoukhuede Foundation and Ofovwe Aig-Imoukhuede, Co-founder, Aig-Imoukhuede Foundation, on the sidelines of the Africa CEO Forum 2024 in Kigali…Thursday.

“We African leaders cannot sit back and watch the 4th Industrial Revolution transform the rest of the world while leaving Africa falling further behind. We have to create our own ‘table’ by using technology to unlock the power of our youth, giving Africa a greater voice in the world. It’s today’s leaders who will determine whether or not we grab this opportunity,” Aigboje Aig-Imoukhuede continued.

The availability of digital public infrastructure is a proven and cost-effective way for developing nations to break free of the status quo. It provides citizens with access to the same public goods and services available to citizens of advanced nations.

The India Stack has become a shining example of what can be achieved when visionary public and private sector leaders partner for development.

The Access Bank and Aig-Imoukhuede Foundation inspired NGO will make such partnerships a reality and delivering measurable improvements to the lives of Africans across the continent.

Notes to Editor:
For media inquiries, please contact:
communication@aigafrica.org or +234 808 5716 788
mediarelations@accessbankplc.com or +234 803 320 4315

ABOUT THE AIG-IMOUKHUEDE FOUNDATION
The Aig-Imoukhuede Foundation is a public sector-focused philanthropic organisation founded by Aigboje and Ofovwe Aig-Imoukhuede to improve the lives of Africans through transformed public service delivery and increased access to quality primary healthcare. The Aig-Imoukhuede Foundation accomplishes its mission by supporting the reform initiatives of public sector entities, providing financing, technical support, and capacity-building programmes and resources for the public sector workforce. The Foundation also provides funding and strategic support to drive the work of affiliate organisations such as Africa Business Coalition for Health (ABC Health), the Private Sector Health Alliance of Nigeria (PSHAN), the Nigerian Solidarity Support Fund (NSSF) and others.

For more information, please visit www.aigimoukhuedefoundation.org.

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AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL

Published

3 days ago

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May 14, 2024

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AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

At the esteemed Choose France Summit 2024, held on Monday, May 13, 2024, Aigboje Aig-Imoukhuede, the Chairman of Access Holdings PLC, was formally appointed as the President of the France Nigeria Business Council (FNBC) by the President of the French Republic, President Emmanuel Macron.

Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.

The France Nigeria Business Council (FNBC) stands as a pivotal coalition of Nigerian private sector business leaders, committed to enhancing bilateral relations between Nigeria and France. Its core objectives revolve around the facilitation of trade, investments, infrastructural development, job creation, and cultural integration between the two nations.

Since its establishment in June 2021 under the auspices of President Emmanuel Macron, the FNBC has diligently utilised its member network to champion investments across key business sectors, fostering cultural understanding and driving economic growth between Nigeria and France. Notably, it has catalysed Nigerian businesses’ ventures into investment opportunities within France.

Comprising 13 distinguished members, the Council boasts prominent figures including Aigboje Aig-Imoukhuede (President), Abdul Samad Rabiu, Gilbert Chagoury, Mike Adenuga, Aliko Dangote, Jim Ovia, Tony Elumelu, and John Coumantaros. Additionally, Kola Karim, Leo Stan Ekeh, Daisy Danjuma, Gbenga Agboola, and Jean Haas serve as integral members, with Jean Haas holding the position of Secretary.

Aig-Imoukhuede’s appointment follows the passing of Herbert Wigwe, the Council’s former President, in February 2024.

Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.

The Choose France Summit is an annual gathering that convenes business magnates, investors, and governmental dignitaries to explore investment prospects within France. The highlight of the Summit was the Presidential Dinner, characterised by high-level engagements and mutual commitments between participating parties.

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ACCESS BANK (SL) LTD STRENGTHENS LEADERSHIP TEAM WITH KEY BOARD APPOINTMENTS, NAMES NEW CHAIRMAN

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5 days ago

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May 13, 2024

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Bank Sierra Leone Ltd (‘Access Bank (SL) Ltd’) has announced the appointment of new executives to its Board of Directors (‘the Board’), further strengthening its leadership team and advancing the implementation of its growth and transformation strategy.

These appointments also reflect the Bank’s commitment to fostering growth and development while maintaining the highest standards of governance and stewardship.

Joining the Board as Non-Executive Directors are Maurice Nathaniel Cole, Nsikak N. Usoro, Michala Mackay, Ibrahim Khalil Lamin, and Kolawole Augustine Ajimoko.

The appointees boast a wealth of expertise from diverse sectors, including banking, telecommunications, corporate governance, compliance, and finance. Their combined experience and vision will contribute to shaping the future trajectory of Access Bank (SL) Ltd.

Cole will serve as Chairman, following the exit of Alice Marie Onomake and will bring his experience to the fore as Access Bank (SL) Ltd works to consolidate its market position and deliver value for all its stakeholders.

“We are thrilled to welcome our new executives to Access Bank (SL) Ltd,” said Ganiyu Sanni, Country Managing Director, Access Bank Sierra Leone Ltd. “Their leadership and vision will be invaluable as we navigate through challenges and pursue sustained success. We extend our gratitude to outgoing Chairman, Alice Marie Onomake, and Non-Executive Director, Aminata B. Dumbuya, for their dedicated service and contributions to the Bank.”

Access Bank (SL) Ltd remains committed to excellence, transparency, and accountability as it embarks on this exciting new chapter. The Bank looks forward to leveraging the collective expertise of its leadership team to drive innovation, foster growth, and create lasting impact for its customers and communities.

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